Stablecoin Revolution To Make The Dollar More Dominant Than Ever? | Brent Johnson

**Brent Johnson** (0:00)
The dollar is already the ring of power, in my opinion. And this is a way to just entrench it even more. And the craziest thing, in the same way that the Eurodollar market built the Eurodollar prison that the world is now in, stable coins is a way to turbocharge that. And not only turbocharge it, but give the US more control.

**Adam Taggart** (0:28)
Welcome to Thoughtful Money, I'm Thoughtful Money Founder and your host, Adam Taggart. Welcoming you here to Thoughtful Money from the New Orleans Investment Conference. I'm joined by Dollar Milkshake Theoretician himself, Brent Johnson. Brent, how are you doing?

**Brent Johnson** (0:44)
I'm good, thanks.

**Adam Taggart** (0:46)
Thanks so much for joining me here, Brent. So I first want to give a big shout of thanks to Russ Gray and the team at Main Street Media. They are building a network of podcasters to develop content that basically will help advance the prosperity and liberty, or the P&L, of Main Street America. I think it's a great cause. Go check out mainstreetmedia.com. All right, Brent, we've got our panel tomorrow, The Future of Money that you're going to be on, I think for the first time this year. Yeah. It's going to be good. And as I was telling you earlier, I'm going to let you lead off on that panel. Basically, using you as the grenade I'm going to pull the pin on and then walk away and watch what happens.

**Brent Johnson** (1:28)
Why is this always me?

**Adam Taggart** (1:29)
Yeah. Well, first off, we've got some characters on the panel with you, Peter Schiff, Larry Lepard, who are not short of opinions anyways. But I think in general, or in response to your idea, which we're going to talk about in a second here, I think they're going to have some really strong opinions on. So folks, Brent just published really one of the most like mind-opening reports I've read all year. And it's on stable coins. And stable coins are something that I think most people have kind of heard of, but don't really feel like they understand. And they think of it as sort of like a corner of the crypto market. And you think it's much bigger than that. We're going to talk about that in a sec. But just to drive home the point of big folks. So I'm not a huge guy, but I'm tall enough. I'm about 6'2, maybe just a hair under that.
So Brent here, I've been interviewing him for many years. The first time I met Brent, I was shocked because for two reasons. One, when I interview you...

**Brent Johnson** (2:34)
How good looking I was? Is that what I was? Well, that.

**Adam Taggart** (2:36)
I mean, you're just even so much more in person. But no, when I used to interview you, your camera was kind of above your computer. So you were kind of looking up at your camera. So I kind of had the impression that you were kind of a short guy. Right? You're not. And we're sitting here. And folks, if you're watching us, we probably look like we're about the same ish height. Brent, stand up with me here for a second.

**Brent Johnson** (2:59)
Let's do it. Don't get on your toes.

**Adam Taggart** (3:02)
Yeah, I won't. I won't either. But as you can see, this guy is all legs. What are you? Six, five? Yeah. Well, thanks for entertaining me on that. But it's so fun because folks, obviously when you get to meet the folks that you see on video in person, it's always a much more rich experience. And with Brent, I probably got about seven or eight inches more than I expected. But anyways, my friend. All right. So stable coins. If we can, let's start with you just describing really briefly what a stable coin is, just so we know the terminology. And then I'll ask you why you think they are part of a much bigger potential new monetary regime than most folks might be appreciating.

**Brent Johnson** (3:47)
Yeah. Essentially, a stable coin is a digital token that has been issued by some either financial firm or some company. And the idea is that it is going to be stable against a certain asset. So think of a US dollar stable coin should be stable versus the US dollar.

**Adam Taggart** (4:05)
And when you say stable, you mean like stable in price.

**Brent Johnson** (4:07)
Stable in price. This has nothing to do with the value. Yeah. And it's not a token that is expected to appreciate greatly versus whatever it is representing. So in other words, there could be a gold stable coin. It would track the price of gold. It wouldn't go up more than the price of gold and it wouldn't fall more than the price of gold. But a US dollar stable coin is not supposed to make you rich. It's not supposed to make you poor. It's just supposed to be stable against the US dollar. And it's a way to have a digital dollar that you can send, spend, transact with that settles instantly anywhere in the world, across the world. And you don't even need a bank to do it.